From BTC hitting $34k to FTX getting investors for a relaunch, here is everything important that happened in crypto last week!
Hello, crypto fam! Coinmarketcap here with a quick recap of last week's top stories in case you missed them.
The markets rallied as Bitcoin hit $35k. On the other hand, the FTX telenovela continues as SBF's trial nears its end and investors circle a potential relaunch.
Let’s dive deeper!
Here is a 5-minute breakdown of important things that happened last week in crypto!
BTC Blasts Past $34K Outta Nowhere
Houston, we have lift-off!! After months of sideways trading, BTC shocked everyone by suddenly blasting past $34k for the first time since May last year. Turns out renewed hopium for a spot ETF approval lit the rocket fuel. Now analysts are trying not to get too excited in case the SEC crushes dreams yet again.
Could this be the start of the long-awaited bull run? Read the full story here!
Millions Liquidated as BTC Pumps
While celebratory baby whales popped champagne over Bitcoin's pump, selectively bitter traders got absolutely demolished by nearly $400 million in liquidations. Most of the rekt positions were shorts, as the swift BTC surge caught overleveraged short traders by surprise.
And a popular crypto figure is on the verge of a $21 million liquidation. Get the entire liquidation details here!
Bitcoin Dominance Hits 30-Month High
Bitcoin's market dominance is back in a big way! It has climbed to 54%, the highest in over 2 years.
That means more people are choosing good ol' Bitcoin when buying crypto. And the upcoming halving has Bitcoin bulls seeing green.
With supply shrinking and demand growing, Bitcoin's looking fine! Find all the stats here!
$57M Pours Into BTC
Over $57 million flooded into Bitcoin on Monday as ETF hype intensified. With BTC surging past $34k and BlackRock's ticker sneaking onto exchanges, the writing is on the wall. But the SEC isn’t making it that easy!
But which institutions poured these funds? Read the full story here!
GBTC Outperforms Nvidia
While the stock market whimpers, Grayscale's Bitcoin Trust has crushed the competition in 2023. GBTC has pumped 220%, trouncing the S&P 500 and even Bitcoin itself!
Investors are drooling over the prospects of finally getting an SEC-approved Bitcoin ETF. But GBTC's gains show there's still money to be made. Read the full story here!
FTX Secretly Sought Funds From Google
New evidence shows FTX desperately sought emergency funds from giants like BlackRock and Google before imploding. But even mega-investors seemed hesitant to toss cash into the dumpster fire situation.
Will we ever uncover who knew what about FTX's finances leading up to its spectacular meltdown? Who else did FTX reach out for funds? Read the full story!
BlockFi Claws Its Way Out of Bankruptcy
Either BlockFi has found crypto’s fountain of youth or bankruptcy ain’t what it used to be! The lending platform emerged from bankruptcy, now hungry for funds from shadier collapsed firms. But customers likely won't see assets for a while.
How far can hustler BlockFi climb out of the hole? Read the full story here!
FTX Going for a Relaunch?
FTX is planning on rising again! Its investment banker revealed that the firm is reviewing bids to reanimate the dead exchange.
But with billions owed, can a relaunch work? Or is the team planning for a bigger and better rug pull? Find out which investors are willing to risk their money to revive the exchange!
And that concludes our list of last week’s top stories!
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